Schwazze Cannabis Co Transitions To OTC Expert Market Due To Delayed Filing
Portfolio Pulse from Nina Zdinjak
Medicine Man Technologies, Inc., operating as Schwazze (OTCQX:SHWZ), announced that its stock will transition to the OTC Expert Market due to a delayed SEC filing. The delay stems from the dismissal of its previous auditor, BF Borgers CPA PC, and the subsequent SEC order against BF Borgers. Schwazze has engaged Baker Tilly US, LLP as its new auditor and is working to complete the necessary audits. The company is also seeking a management cease trade order from the Ontario Securities Commission.
July 02, 2024 | 1:33 pm
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Schwazze (OTCQX:SHWZ) is transitioning to the OTC Expert Market due to a delayed SEC filing caused by the dismissal of its previous auditor, BF Borgers CPA PC. The new auditor, Baker Tilly US, LLP, is working on re-audits. The company is also seeking a management cease trade order from the Ontario Securities Commission.
The transition to the OTC Expert Market is a direct result of the delayed SEC filing, which is a significant regulatory issue. This could negatively impact investor confidence and the stock price in the short term. The company's efforts to re-audit and seek a management cease trade order may mitigate some of the negative impact, but the overall sentiment is likely to be bearish until the issues are resolved.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100